I've noticed that BlueDragon does not bundle the Verity search engine as ColdFusion does. Can I do text and query indexing with BlueDragon?

Answer

Yes you can. While BlueDragon does not embed Verity, it does instead embed an alternative text search engine, Lucene. All CFML tags related to this (CFCOLLECTION, CFINDEX, and CFSEARCH) as well as admin interface features for it exist, just as in CF. You can index text files, PDF, Word, database queries, and even can do web site spidering directly from CFINDEX (something CF doesn't offer). BlueDragon also supports cfsearch of multiple languages.